Xcel Brands Acquires Judith Ripka® Brand for $22.5M
Blank Rome represented Xcel Brands, Inc., a public company engaged in the design, licensing, marketing, and retail sales of consumer brands, in its acquisition of the Judith Ripka® brand, related trademarks, and other intellectual property rights for approximately $22.5 million. Simultaneous with the closing of the asset purchase, Xcel Brands entered into a $9 million term loan with Bank Hapoalim B.M; a license agreement with QVC, Inc. for QVC, Inc. to market, promote, distribute and sell various products under the Judith Ripka® trademark and brand name in exchange for a royalty based on net retail sales of the products; and a license agreement with an affiliate of Judith Ripka® to design, source, market, and promote Judith Ripka® brand products to wholesale accounts and an internet website Xcel intends to operate.
a public company engaged in the design, licensing, marketing, and retail sales of consumer brands